USD/CAD: BoC’s 50 bps hike could spark knee-jerk buying in the Loonie – SocGen USDCAD BOC InterestRate Banks
“The BoC rate decision is a toss-up between 25 bps and 50 bps today but we suspect the bank may opt for the latter after GDP growth surpassed expectations in 3Q thanks in part to strong exports.”
“Money markets are pricing in about 33 bps today so 50 bps to 4.25% or 125 bps above 2-3% neutral rate band would be a surprise and could spark knee-jerk buying in the Loonie.”Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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